They would prefer a
stand-alone house with 3 bedrooms, 2 bathrooms, 1 lounge room, and enough room
for 2 cars. It was also found they would like to live within a 6-10km radius of
Brisbane’s CBD, and be close to transport modalities and public amenities.

$400K - $600K was the price
range for a home that most of the tertiary students were shown to favour (41.0%).
However, the continued rise of property prices ahead of wage growth has made
the traditional notion of home ownership seem unattainable to them.

What are the barriers to home
ownership for tertiary students?

Price - 27.5% identified
price as the greatest barrier to entry in purchasing their first home.

Interest rate increases –
this was distinguished as a significant barrier to entry, as interest rate
increases are unpredictable and can have a significant impact on first home
buyers.

Lack of property market
knowledge and experience – many tertiary students simply don’t have the
property market experience or knowledge to make them confident enough to
purchase a home.

Although home ownership was
identified as ‘extremely’ or ‘very important’ to tertiary students, it was revealed
to be a future aspiration by many surveyed (5+ years into the future). Participants
also indicated that while home ownership is currently desirable, their
preferences could change over time.